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Coin apologizes to backers for delays, updates card testing program

08/25, 7:58am

Coin extends card replacement beta to more users, removes extra cost

Digital credit card replacement start-up Coin has changed the requirements for its extended beta trial, as part of an apology for its heavily-delayed release. A message to backers advises it is extending the beta from 10,000 backers to 15,000 backers, and by making it available at no cost, it is also effectively removing the $30 "fee" for taking part in the trial.

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Digital credit card replacement Coin calls for 10,000 more testers

08/22, 1:11pm

Coin asks backers to test card before public launch

Payment startup Coin is expanding its base of testers for its digital credit card replacement from 1,000 to 11,000 people. The crowd-funded project, which consists of a plastic card with a screen capable of storing various payment card details and can be swiped at ATMs and payment terminals, is attempting to fix as many issues as possible before it makes the card publicly available.

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Amazon preparing subscription payments service launch, claims Reuters

06/09, 12:28pm

Subscription via Amazon payment platform intensifies competition with PayPal

Amazon is expanding the reach of its payment platform, by providing subscription-based payment options to customers, claims a report. Keen to take on PayPal, the retailer is said to be launching the service later today, which will let start-ups and other companies charge a monthly fee, such as a mobile phone bill or music subscription, to cards stored to a customer's Amazon account.

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Facebook reportedly plans money transfer, storage service in Europe

04/14, 2:35pm

Irish regulatory approval could be granted to Facebook within weeks

Facebook is working to provide financial services, such as allowing users to send money to each other, according to a report. The social network is said to be applying to regulators in Ireland to begin offering money storage and transmissions, something which could receive approval within weeks, and would directly place Facebook in competition with PayPal, Google Wallet, and other similar services.

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Amazon plans Kindle-based checkout, PayPal competitor, claim reports

01/30, 7:24am

Systems consisting of Kindle Fire tablet, card reader could head to stores this summer

A pair of reports claim that Amazon is moving further into the payments market, from two different directions. One plan involves offering retail stores a point-of-sale system using Kindle tablets, while another involves the creation of a system for person-to-person payments, in a similar service to that currently offered by payment processing competitor PayPal.

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UK banks to trial check deposits via smartphone photographs

12/27, 3:02pm

Trial in April follows change in UK banking legislation

Banks and building societies in the United Kingdom are considering allowing customers to pay in checks using smartphones, the UK Treasury has announced. The change, which would involve bank customers to photograph a check using a smartphone instead of taking it to branch, could be implemented as part of a new Check 21 law, with the first trial of the system set to begin in April.

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Briefly: 4oD on Now TV and Roku, PayPal accepts gift cards online

11/27, 12:15pm

Channel 4 on-demand video service reaches Roku, Now TV streaming devices

4oD, the on-demand video service from British broadcaster Channel 4 is now available to use on the Roku and the Now TV streaming set-top boxes in the United Kingdom. The on-demand offering from Channel 4 accompanies similar services such as the BBC iPlayer and Demand 5 on the devices, as well as Sky's own Now TV prepaid Internet-based satellite television service.

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Visa launches V.me digital wallet in UK, France, Spain, Poland

11/27, 10:22am

Visa takes on PayPal, Google Wallet with online payments system

Visa has launched its online digital wallet in parts of Europe, one it initially announced in April last year, as the company tries to take on PayPal and Google Wallet. V.me by Visa is able to store payment details for multiple cards, which can then be used to make payments with retailers online instead of providing debit or credit card details.

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eBay acquires payment startup Braintree for $800 million

09/26, 9:56am

Buyout to bolster PayPal capabilities

eBay has agreed to acquire Braintree, a company that specializes in payment systems, for approximately $800 million in cash. The startup will initially operate as a separate division under eBay's PayPal division, which has served as a dominant competitor in the payment-services market.

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PayPal extends SDK to Android, provides in-app mobile payments

05/14, 4:40am

Developer kit to allow Card.io-based credit card scanning

Payment service PayPal has launched a new software development kit for Android. Following on from the iOS version launched in March, the Android SDK will allow developers to integrate PayPal payments into their apps, providing them with an alternative payment processing system to Google Play, and the option to pay for in-app items or services by credit or debit card.

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Google shutters Google Wallet card development, project lead leaves

05/10, 10:21am

Google Wallet Card could have acted as credit card proxy

Google is dropping its proposals to augment its Google Wallet payment system with a physical card, ahead of changes expected to be announced at Google I/O, according to reports. The news comes at the same time as the head of Google Wallet itself, Osama Bedier, will be leaving the company to pursue "other opportunities."

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PayPal prepares Here mobile payments for European launch

02/22, 9:46am

Initial roll-out in UK uses new Chip & Pin device

PayPal is rolling out a new version of its Here mobile payments system for Europe. Starting in the UK, the payments service will be providing businesses a pocket-sized device that will offer Chip & PIN protection for payments through a retailer's mobile phone, instead of the triangular attachment used in the United States.

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Verifone cuts Sail, pulls out of mobile card payments

12/14, 3:25pm

Mobile payments deemed 'fundamentally unprofitable'

Payment processor VeriFone is withdrawing from the mobile card payments market, citing "razor-thin margins." The decision to shutter Square-competitor Sail came to light during a quarterly conference call, with CEO Doug Bergeron calling the market for low-volume merchant processing as "fundamentally unprofitable."

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Square reaches $10 billion payment processing milestone

11/15, 6:19am

Mobile payment system increases by five times in one year

Mobile payments system Square has reached a total of $10 billion in payments for the year. The company has increased its rate of payments from $5 billion in the sprint, and is up from the $8 billion figure two months ago. At this time last year, Square was passing just $2 billion in payments per year.

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